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Stripe laying off around 14% of workforce

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Re: Stripe laying off around 14% of workforce

#841

Post by twelve40 »

oblio wrote: post #747
xyst wrote: post #729

Earlier quoted context omitted.

I feel most decent engineers can get rehired elsewhere with 14 weeks of runway. I do agree this is generous af. Most companies just give out minimum severance. No acceleration of vesting. Healthcare continues for maybe 1-2 months. I know at my current company, I will lose all PTO.

> I feel most decent engineers can get rehired elsewhere with 14 weeks of runway. Oh, sweet summer children and children of recession free economies for IT. If job openings fall to 10-20-30% of current ones and tens, hundreds of thousands of IT workers are fired, good luck getting hired quickly, when any of the few good remaining job opening has hundreds of good applicants. We'll be back to the days of: Sure, you can…

> Sure, you can code, your algorithms are efficient and your CV is impressive, but...

it sucks and is unfair, and I might suffer from that myself, but isn't this the very essence of capitalism? if I'm ridiculously good and there are 10 more people who are also ridiculously good, it's going to come down to nitpicking, because we all compete in a market for this same req.

Re: Stripe laying off around 14% of workforce

#842

Post by jeffbee »

anonym29 wrote: post #833
jeffbee wrote: post #432

Earlier quoted context omitted.

Most important bullet point whenever you are leaving a company: * Never sign anything! Unless there is a substantial check attached, you have no reason to sign any agreement with the employer you are leaving. Politely refuse, and if they insist, ask for compensation.

I had to drop off equipment once towards the end of a contract while the usual people responsible for accepting the return were out of office. I found the head of IT, typed up a paper saying "Anonym29 returned their equipment to Mr. Head of IT on [date] at [time]", put my signature on it, got his signature on it, made a copy for him, and kept the original - I didn't want the risk of the chain of custody getting mixed…

That’s just a receipt, isn’t it? Always get a receipt.

Re: Stripe laying off around 14% of workforce

#843

Post by [deleted] »

anonym29 wrote: post #311

I would like to offer some tips for those faced with the potential of layoffs that I have compiled. I understand much of these come too late for those already affected, but for those worried about the prospect, these can help to ease the pain if it does happen: • Check if your company pays out unused PTO, sick days, etc as cash. If they do, do not use any of the applicable type(s) unless you are going to lose it. • H…

[deleted]

Re: Stripe laying off around 14% of workforce

#844

Post by pm90 »

sharkweek wrote: post #613
jesuscript wrote: post #442

Earlier quoted context omitted.

This might sound wild, but maybe the decent thing to do is if the company warns the team months in advance that a purge is coming. Let those who need to leave, leave. Quietly tell those who you really want to remain that they should not fear.

I have one friend at Stripe who, after the rumors started swirling that this was coming, was hoping they were going to get laid off today (they didn't), so now they're stuck in a job they don't want anymore, but don't have the headspace to effectively job hunt right now. Imagine a world where the company had offered them the opportunity to quit with a buy out package, probably quite a bit healthier of a situation for…

Yeah layoffs impact not just the people that leave but also those that remain. The ones that leave at least have the opportunity to move on.

The people left have to worry both about the layoffs and also need to work harder. Its a bad situation but at least the people laid off can move on.

Re: Stripe laying off around 14% of workforce

#845

Post by danielmarkbruce »

lmm wrote: post #807
danielmarkbruce wrote: post #569

Earlier quoted context omitted.

There doesn't appear to be any attempt to distance themselves. He basically said: "We hired too many people. The decision to hire them was ours. It was a mistake. We have to let them go. We are at least going to cover salaries/healthcare for a decent amount of time." There is probably too much business jargon, but that's how people actually talk in many companies (certainly in Stripe there is overuse of jargon). It's…

"We have to let them go" is absoultely distancing and dodging responsibility. "We have decided to lay them off" would be the responsible thing to say.

Quote: "John and I are fully responsible".

Analyzing the semantics of a phrase and then stating it implies "person A is saying/doing X", when right there person A is explicitly saying/doing Not X, is nonsensical.

My favorite color is blue. I like coffee => "his favorite color is brown!".

Re: Stripe laying off around 14% of workforce

#846

Post by ZachSaucier »

breck wrote: post #164

1) Any Stripers looking for work we have plenty ( https://publicdomaincompany.com/ ) and it's as meaningful as it gets. breck7@gmail.com or 1-415-937-1984 2) Saving this in case I ever need to tell a portfolio company how to do a layoff.

As someone who went through the process at Stripe, I recommend giving managers more awareness ahead of time and perhaps some forewarning to the company at large ahead of time

Re: Stripe laying off around 14% of workforce

#847

Post by wanderingmind »

The hypocrisy of HN is mindblowing. I have seen thread after thread people vouching they won't hire candidates who jump multiple times to optimize their paycheck and benefits, but have no problem with mass layoffs in name of optimisation. You can't have two different scales for the two sides.

Re: Stripe laying off around 14% of workforce

#848

Post by smoldesu »

oblio wrote: post #834
jacobsenscott wrote: post #766

Earlier quoted context omitted.

Can we please retire this "sweet summer child" thing? It is annoying af, rude, and likely never written by anyone over 30.

> and likely never written by anyone over 30. Well, George RR Martin would be super happy to know he's under 30 :-) For what it's worth, I'm not under 30 either. It's light-hearted and slightly irreverent. Whimsical, one might say.

Once you turn 30, the only thing you tell engineers is "winter is coming"

Re: Stripe laying off around 14% of workforce

#849

Post by jedberg »

b4je7d7wb wrote: post #829
jedberg wrote: post #774

Earlier quoted context omitted.

> Unlimited PTO also discourages using PTO because nobody wants to be seen as the person taking the most vacation. That depends on the management. I took more vacation at Netflix than anywhere else (where we had unlimited PTO). But the management made a point of talking about their extended vacations and making sure all the VPs took at least a few weeks of vacation every year to set a good example. There was no stigm…

Im curious did anyone take 2 months?

I don't recall anyone taking 2 months at a time, other than mothers who just gave birth (who usually took 3-6 months). That being said, in the US, even companies with generous vacation policies generally don't let you earn two months, much less take it. Usually the best you can do is accrue 1.5 times your annual earning, and most places rarely give more than four weeks.

Re: Stripe laying off around 14% of workforce

#850

Post by ddyevf635372 »

jcadam wrote: post #677
gzer0 wrote: post #633

* Severance pay. We will pay 14 weeks of severance for all departing employees, and more for those with longer tenure. That is, those departing will be paid until at least February 21st 2023. * Bonus. We will pay our 2022 annual bonus for all departing employees, regardless of their departure date. (It will be prorated for people hired in 2022.) * PTO. We’ll pay for all unused PTO time (including in regions where tha…

I was laid off at the beginning of October and still can’t find anything. It’s definitely a buyer’s market for senior level engineering talent.

It is time to apply jobs in New Zealand. Economy is strong, easy pathway to be permanent resident. Oh, and it is a beautiful country with super friendly people. https://www.immigration.govt.nz/new-zealand-visas/apply-for-...
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